Sunbelt Securities Inc. Purchases 117 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Sunbelt Securities Inc. boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,679 shares of the insurance provider’s stock after purchasing an additional 117 shares during the quarter. Sunbelt Securities Inc.’s holdings in Arch Capital Group were worth $617,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ACGL. Chemistry Wealth Management LLC purchased a new position in shares of Arch Capital Group in the 1st quarter worth about $409,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Arch Capital Group in the 1st quarter worth about $398,000. Riverview Trust Co purchased a new position in shares of Arch Capital Group in the 1st quarter worth about $172,000. Gateway Investment Advisers LLC raised its position in shares of Arch Capital Group by 10.4% in the 1st quarter. Gateway Investment Advisers LLC now owns 10,166 shares of the insurance provider’s stock worth $940,000 after purchasing an additional 959 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new position in shares of Arch Capital Group in the 1st quarter worth about $205,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI lifted their price target on Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Arch Capital Group from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Bank of America lifted their price objective on Arch Capital Group from $109.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Arch Capital Group Trading Down 2.3 %

Arch Capital Group stock opened at $99.77 on Thursday. The business has a 50-day simple moving average of $98.72 and a two-hundred day simple moving average of $89.11. The company has a market cap of $37.46 billion, a P/E ratio of 7.87, a P/E/G ratio of 1.75 and a beta of 0.60. Arch Capital Group Ltd. has a 52-week low of $70.53 and a 52-week high of $103.79. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. Analysts predict that Arch Capital Group Ltd. will post 8.55 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of the transaction, the chief executive officer now directly owns 228,035 shares in the company, valued at approximately $22,037,302.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.